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DIMAPUR — In a significant step towards fostering entrepreneurship and innovation, YouthNet on Monday signed a Memorandum of Understanding (MoU) with IIM Calcutta Innovation Park (IIMCIP), the business incubation arm of the Indian Institute of Management, Calcutta.
According to an update from YouthNet, the partnership is an extension of previous partnership formalised through an MoU, with the aim to provide commercialisation support and scaling opportunities for startups by focusing on creating robust business models, mentorship, market linkage, and access to funding and visibility.
The MoU was signed by Nunesenuo Chase, director of YouthNet, and Neikepekho Shosahie, manager at YouthNet Incubation Centre (YIC), alongside Pranjal Konwar, COO of IIMCIP and Sadique Mannan from IIMCIP.
Both parties acknowledge the benefits of collaboration, especially through joint engagement with the innovator community.
“The MoU sets a framework for promoting research-driven innovations, helping entrepreneurs bring their ideas to market and scale them for wider adoption. The goal is to co-create success stories on both regional and national levels, leveraging the complementary strengths of YouthNet and IIMCIP,” the update stated.
Through the partnership, entrepreneurs will receive comprehensive support, including proof of concept (POC) development, access to technology and lab facilities, handholding, mentorship, capacity building, and crucial market and finance linkages.
These services will be provided subject to the terms and conditions of each incubator involved.
In addition, IIMCIP and YouthNet also hosted the Ministry of Electronics and Information Technology's (MeitY) Technology Incubation and Development of Entrepreneurs (TIDE 2.0) programme.
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Over 35 startups and innovators participated in this initiative held at YouthNet Incubation Centre. The TIDE 2.0 programme aims to support 2,000 startups through ICT-enabled technologies, with applications spanning healthcare, education, agriculture, financial inclusion, clean energy, and more.
Shortlisted entrepreneurs from the Techathon held on Monday (Sept. 9) will be invited for the next round of B-plan pitching, leading to the declaration of the final winners.
The initiative seeks to identify startups that can qualify for the MeitY entrepreneur-in-residence and MeitY Grants under the TIDE 2.0 programme.
“For entrepreneurs with transformative ideas, particularly those addressing key challenges in Northeast India, this partnership provides a valuable opportunity to turn these ideas into impactful and profitable solutions. IIM Calcutta Innovation Park is actively seeking promising ventures to nurture and scale,” it added.